A Federal Capital Territory (FCT) High Court in Abuja has granted ₦2 billion bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over allegations involving a 753-unit housing estate and financial misconduct.
Justice Halilu Yusuf, who presided over the case, delivered the ruling on Friday following Emefiele’s arraignment on an eight-count charge. The charges include alleged illegal acquisition of a housing estate in Abuja and the control of billions of naira through proxy bank accounts.
The judge noted that Emefiele had previously been granted bail in three separate criminal cases and had not violated any of those terms. Based on this, the court approved his bail request with strict conditions.
According to the ruling, Emefiele must present two sureties who own properties worth ₦2 billion each, located in upscale areas such as Asokoro, Maitama, or Wuse 2 in Abuja. He is also required to submit all his travel documents to the court.
The court directed that the bail conditions must be fully met by Wednesday. If not, Emefiele will be remanded in custody.
His lead counsel, Matthew Burkaa, filed the bail application, which was not opposed by the prosecution led by Rotimi Oyedepo. However, Oyedepo asked the court to impose additional conditions compared to those from previous bail grants.
